Review: MRL Corporation Ltd, page-14

MRL raises $1m to advance high-grade graphite projects

http://www.asx.com.au/asxpdf/20150513/pdf/42yjl338c9wvyy.pdf


MRL Corporation Ltd (ASX: MRF) is pleased to advise it has accepted firm commitments for a $1 million raising through a share placement to sophisticated investors.

The raising involved the placement of 25 million shares at 4c each to sophisticated investors from Australia, Europe and Asia. This represents a 17 per cent premium to the last closing price on Friday 8th May 2015. QA Capital Pty Ltd acted as Lead Manager to the placement.

The capital raising follows the outstanding results received by the Company from its recently conducted graphene test work.

The proceeds will be used to progress development of MRL’s high-grade graphite projects in Sri Lanka and to fund the next round of tests aimed at establishing the suitability of MRL’s graphite for producing premium-priced graphene.

MRL Managing Director Craig McGuckin said the placement was recognition of the value of MRL’s high-grade Sri Lankan projects;

“Being able to complete a placement at a premium to the previous closing price also demonstrates the high quality nature of the projects the Company holds in Sri Lanka.”

Mr McGuckin said.

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In many ways the importance of this news was dwarfed by the other news that MRF can turn ORE in GRAPHENE

Capital is the life-blood of Small Caps. Without it they cannot meet their requirements and commitments and they cannot reach their full potential. How, When, Who and Why as well as the Structure matter a great deal...

http://www.mrltd.com.au/attachments/article/136/20150312-HalfYearly.pdf

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This capital is very important; I have been speaking about CR and aggressive exploring this year but after the latest testing developing MRF's ability to convert ore into graphene I think this will be as important as that first offtake agreement and some cashflow.

Some near term weakness is all confined by the True Longer Term UPTREND in my opinion...

Tight money management for MRF has to be on the top of their list. Getting into production with conservative targets with premium prices. MRF has many partners that can help it achieve its goals and many products it can supply world wide like for instance MRF's vein found to be suitable for Lithium Batteries.


What do you think?



Kind Regards

DYOR !!!!